1227 16th StDetroitMI48216
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Rental property for sale in Detroit at 1227 16th St, Detroit, MI, 48216 generates $2,938/mo in rent and, after a $1,713/mo payment, leaves $630/mo in cash flow. Total monthly income is $2,938/mo, and annual cash flow is $7,560/yr on $116,025 invested. Return on cash invested sits at 26.42% in year one, and rental yield is 10.07% on a $350,000 entry. Equity gained on principal adds $2,258/yr, while 5% annual appreciation builds toward $96,699 over five years. Five-year ROI reaches 138.29% and total cumulative return in cash sums $160,454. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,938/mo property income rather than buyer’s personal income.
Condo
Built in 2005
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48216, Detroit, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,611 (100%) |
| Owner Occupied HU | 1,001 (27.7%) |
| Renter Occupied HU | 1,784 (49.4%) |
| Vacant Housing Units | 826 (22.9%) |
| Median Home Value | $241,667 |
| Average Home Value | $294,176 |
Housing Distribution
Address Breakdown
Residential
2,835
Single Family
1,751
Multi-Family
1,084
Businesses
419
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